SiTime Corporation (NASDAQ:SITM – Get Free Report) shares dropped 9.7% during mid-day trading on Tuesday . The company traded as low as $672.90 and last traded at $677.0070. Approximately 162,577 shares traded hands during trading, a decline of 66% from the average session volume of 483,755 shares. The stock had previously closed at $749.44.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on SITM. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Roth Capital restated a “buy” rating and set a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. UBS Group raised their target price on SiTime from $775.00 to $840.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $900.00 target price on shares of SiTime in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus price target of $688.75.
Get Our Latest Stock Analysis on SiTime
SiTime Stock Performance
SiTime (NASDAQ:SITM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.95 by $0.39. The business had revenue of $157.43 million for the quarter, compared to analysts’ expectations of $146.46 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The company’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Equities research analysts predict that SiTime Corporation will post 6.33 earnings per share for the current fiscal year.
Insider Activity at SiTime
In other SiTime news, Director Raman Chitkara sold 2,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the transaction, the director owned 19,898 shares of the company’s stock, valued at $14,473,407.24. This trade represents a 9.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 1,709 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $731.49, for a total value of $1,250,116.41. Following the completion of the sale, the insider owned 81,436 shares of the company’s stock, valued at $59,569,619.64. This trade represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 69,759 shares of company stock worth $50,046,035 over the last quarter. 1.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On SiTime
Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares during the period. Los Angeles Capital Management LLC grew its position in shares of SiTime by 0.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after buying an additional 25 shares during the last quarter. CWM LLC raised its stake in SiTime by 4.2% during the fourth quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after acquiring an additional 38 shares during the period. Corient Private Wealth LLC raised its stake in SiTime by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock worth $249,000 after acquiring an additional 39 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in SiTime by 7.7% in the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock worth $139,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.
SiTime Company Profile
SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.
The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.
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